A Venkataramani

5 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Upheld Rs 5 crore penalty on A Venkataramani
Upheld Rs 10 lakh penalty on Uma Karthikeyan
Held Rs 1 crore joint penalty on Sukumar Subramanian and Rajagopal K needs modification
Upheld Rs 5 crore penalty on A Venkataramani per AO order 29 Nov 2019
Upheld Rs 10 lakh penalty and 5-year debarment on Uma Karthikeyan

SAT-appeal

Fraudulent GDR scheme where USD 27.50 mn proceeds pledged as security to fund sole subscriber Clifford, with non-disclosure and misleading fully-subscribed announcement.
Upheld AO finding of fraud under Sec 12A and PFUTP Regs 3,4 · Upheld Rs 5 crore penalty on A Venkataramani
Fraudulent GDR issue where USD 27.50 mn proceeds pledged as security to fund sole subscriber, with misleading fully-subscribed announcement and non-disclosure.
Affirmed AO finding of fraudulent GDR scheme violating Sec 12A and PFUTP Regs 3,4 · Upheld Rs 5 crore penalty on A Venkataramani per AO order 29 Nov 2019
Appeal: Appeals No. 43/2020, 51/2020, 89/2020, 336/2022, 337/2022 decided 02.09.2022 (reserved 26.08.2022); findings upheld with modification noted
Fraudulent GDR scheme where USD 27.5 mn proceeds pledged as security to fund sole subscriber and loan/pledge and single-subscriber fact not disclosed, misleading market.
SAT upheld AO order 29.11.2019 finding fraud under Sec 12A and PFUTP · Rs 5 cr penalty on A Venkataramani upheld
Appeal: Appeal Nos 43/2020, 51/2020, 89/2020, 336/2022, 337/2022 reserved 26.08.2022, decided 02.09.2022; penalties upheld with modification for joint penalty
Fraudulent GDR scheme: pledged USD 27.5 mn GDR proceeds as collateral to fund sole subscriber, non-disclosure and misleading fully-subscribed announcement.
AO order Nov 29, 2019 penalty Rs 5 cr on A Venkataramani upheld - no error · AO penalty Rs 10 lakh on Uma Karthikeyan dated Apr 21, 2022 upheld as just and proper
Appeal: Appeal Nos. 43, 51, 89 of 2020 and 336, 337 of 2022 with Misc. Applications decided by SAT on 02.09.2022 (reserved 26.08.2022)
Fraudulent GDR scheme: pledged USD 27.5 mn GDR proceeds as security to fund sole subscriber Clifford, misrepresented as fully subscribed, non-disclosure to exchange/investors.
Upheld Rs 5 crore penalty on Chairman A Venkataramani per AO order 29 Nov 2019 · Upheld Rs 10 lakh penalty on Uma Karthikeyan per AO order 21 Apr 2022; noted 5-year WTM debarment
Appeal: SAT Appeal Nos 43, 51, 89 of 2020 and 336, 337 of 2022 decided on 02.09.2022 (reserved 26.08.2022)

Analyse these matters in Ontology · Plans

Source: SecMarx — A Venkataramani. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.